[GNC] QIF import - Loss of sign

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[GNC] QIF import - Loss of sign

Rustyc
Tried posting this yesterday before I was fully "registered" - Hope it
doesn't appear twice. 

Hi - Absolute newbie here trying to learn accounting techniques as well as
GnuCash at the same time.
Have done some “Intro to Accounting” exercises, read GnuCash manuals, set up
a chart of accounts and started by importing a QIF file of bank transactions
thinking this would be the quickest way to get going.

I end up with two entries for each transaction but there is no indication of
which entry is for the bank transaction and which is the one I have to
assign to another GnuCash account (which is what I presume is what is
required). The plus and minus signs in the QIF have disappeared. Am I
missing something?

In case this is not clear I’ll give actual numbers. The QIF files has
entries such as:
D26/06/18
T-38.50
PPAY ANYONE ANZxxxL EGGS 0139314487BILL
^
D01/07/18
T7.31
PINTEREST
^
This shows a deposit (interest) and a withdrawal from the bank account. When
imported into GnuCash I end up with 4 lines in the “Account” page. Each
transaction is listed twice – once with the amount under Increase and once
with it under Decrease. And all have Account = “Bank account xxx” (under
“transfer”).

Is this because I specified “Bank Account xxx” somewhere during the import
process? (I was not sure what GC was asking at each stage!).  

Can someone maybe explain in simple terms how to import bank data and use it
to populate all transactions (rather than entering transactions and then
assigning each transaction to an existing entry)?

Also, the manual states that “Debit and Credit” terms can be replaced with
“Deposit and Withdrawal” for newbies. However, Account view shows columns
labelled “Increase and Decrease”. Confusing!

Any help appreciated!







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Re: [GNC] QIF import - Loss of sign

Derek Atkins-3
Hi,

On Fri, February 22, 2019 8:03 pm, Rustyc wrote:
>
> Tried posting this yesterday before I was fully "registered" - Hope it
> doesn't appear twice. 

It will, once Liz clears the moderation queue..  Unless Liz recognizes the
duplication.  :)   I wouldn't worry about it.

[snip]

> In case this is not clear I’ll give actual numbers. The QIF files has
> entries such as:
> D26/06/18
> T-38.50
> PPAY ANYONE ANZxxxL EGGS 0139314487BILL
> ^
> D01/07/18
> T7.31
> PINTEREST
> ^
> This shows a deposit (interest) and a withdrawal from the bank account.
> When
> imported into GnuCash I end up with 4 lines in the “Account” page. Each
> transaction is listed twice – once with the amount under Increase and once
> with it under Decrease. And all have Account = “Bank account xxx” (under
> “transfer”).
>
> Is this because I specified “Bank Account xxx” somewhere during the import
> process? (I was not sure what GC was asking at each stage!).

Yes.  It means you specified the same GnuCash account as the source and
destination of the transaction.  I.e., you said "I took $100 from BANK and
sent it to BANK".  This is probably not what you intended.

> Can someone maybe explain in simple terms how to import bank data and use
> it
> to populate all transactions (rather than entering transactions and then
> assigning each transaction to an existing entry)?

Yes.  Let's say you have a QIF file called 'bank.qif'.  GnuCash will
assume this is for the QIF Account named 'bank'.  All transactions in this
file will be associated with 'bank', and then you need to map each
transaction to the correct destination account.

The Importer will first ask you to map the QIF Account "bank" to some
GnuCash (asset) account.  So for example, Assets:SunTrust:Checking.  There
may be other QIF accounts in the file, and those too should map to GnuCash
Asset and Liability accounts.

Then it will ask you to match the Categories, which you should map to
GnuCash Income/Expense accounts.

Finally, it will ask you to match the Payee/Memo lines (which is what you
have here).  These you will also need to map correctly to the
Income/Expense accounts.  So for example, you should map "INTEREST" to,
e.g. Income:Interest and "PAY ANYONE ANZxxxL EGGS 0139314487BILL" to,
e.g., Expenses:Groceries.

Your mistake is that you mapped each of these payees/memos to the same
(bank) account that you mapped bank to.

> Also, the manual states that “Debit and Credit” terms can be replaced with
> “Deposit and Withdrawal” for newbies. However, Account view shows columns
> labelled “Increase and Decrease”. Confusing!

The headings are based on the exact account type.  If you use a Bank, it
will be Deposit and Withdrawal.  If it's a credit card, Charge and
Payment.  Increase and Decrease are for generic Asset accounts.

Edit the account in question and check on the account type.

> Any help appreciated!

Hope this helped,

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

--
       Derek Atkins                 617-623-3745
       [hidden email]             www.ihtfp.com
       Computer and Internet Security Consultant

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Re: [GNC] QIF import - Loss of sign

Rustyc
Derek - Thanks for the explanation. I did sort out my "loss of sign" problem
by re-importing and specifying different accounts.

My problem now is that the QIF only has categories: DEP, WDL, JCR, JDR, TCR,
TDR; which don't match to any one Account in my GC CofA. No big drama there
as I thought I could do some matching when it gets to the "Match
payees/memos to GC accounts" step.

However my imported just skips that step and goes straight to "Tradable
commodities". Any idea why?

I then tried the import .CSV which seemed to have some Bayesian matching
capability but that was only for matching with existing transactions.

Again, any help appreciated!!

-Russ



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Re: [GNC] QIF import - Loss of sign

Maf. King
In reply to this post by Derek Atkins-3
On Saturday, 23 February 2019 03:37:15 GMT Rustyc wrote:
> Derek - Second question re your response:

> >
> > Edit the account in question and check on the account type.
>
> Looked at the Account but could not see an option anywhere to specify
> "Account Type" - apart from "Asset", "Expense" etc. Does it depend on
> Account Code or Name (in some way)?
>


Hi Rusty.

That sounds like you are in the correct dialogue box - the "Account Type"
dropdown should have "Bank" and "Credit Card" and several others including
Asset & Expense you mention.

Just set the Bank account to type "Bank" and put it in the Assets parent
section in your tree.  (you can re-parent accounts at any time if you find you
need to make the tree more complicated, eg a folder of different bank accounts
etc.)

HTH,
Maf.




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